RIYADH, 19 November 2002 — Saudi Arabia expects SR4.5 billion in revenues from tourism by 2007, according to a five-year comprehensive tourism development plan prepared by the Supreme Commission for Tourism.
The commission expects the revenue to reach SR11.7 billion because of the sector’s lucrative investment potential. Feasibility studies have indicated that each riyal invested in the sector will have a return of SR6.62.
“During the next 20 years the sector will produce a revenue of not less than SR33.3 billion,” the commission said, adding that the amount could reach SR85.2 billion.
The five-year plan was endorsed by the commission’s board of directors during a meeting here on Saturday under the chairmanship of Prince Sultan, second deputy premier and minister of defense and aviation.
The commission believes that the sector will promote small and medium projects, and attract domestic and foreign investment to establish tourism infrastructure and create more jobs for Saudis.
The commission, which will enter from constituent to operation phase by early next Hijrah year, will support a number of projects aimed at promoting tourism services.
Prince Sultan ibn Salman, secretary-general of the commission, said his organization had identified 446 locations to be developed as tourism sites in eight regions in the Kingdom after completing the required surveying. The land cannot be owned by others or used for any other purpose, he said.
The prince added that the number of domestic flights would be increased from 350,000 to 600,000 in the next five years as part of tourism development. Flights from Gulf countries will be increased from 50,000 to 75,000, the prince added.
Prince Sultan described tourism as the third largest revenue earning sector after oil and industry.
Speaking to Okaz, Prince Sultan said there is no plan to change his organization to a ministry. “It will be a big mistake if we change the commission now to a ministry. Because at present we benefit a lot from the expertise of Prince Sultan, who is the commission’s chairman and has played a big role in strengthening the body and promoting tourism in the country,” he explained.
The commission’s board includes 12 ministers.
He said the commission was now in an interim stage to make it an executive body. “The present structure focuses more on planning,” he said, adding that its officials will be transferred to new departments and given special training.
He hoped that the Council of Ministers would soon endorse the basic national plan for tourism.
At present the commission has three major divisions: Planning, research and marketing. There are 200 employees at the commission.
The figure could reach 250 when the plan is implemented.
